Word: rubbers
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Dates: during 1920-1929
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...clearances of stock sales on the London exchange are made only semimonthly instead of daily as in the U. S. When the second July settlement came around last week, the exchange machinery almost , broke ; clerks were worked overtime for many hours. It all came about because of speculation in rubber stocks following the rise of the better grades of rubber to $1.20 a pound...
This increase follows from British laws restricting rubber production in her colonies, laws passed to do away with overproduction that was impoverishing the industry. The restriction has about quadrupled the price of rubber...
English manufacturers have to pay just as much as Americans, but since the "U. S. is using 70% of the world's rubber supply, she is hard hit. Two years ago the U. S. paid less than $200,000,000 for British rubber. This year the rubber bill will probably go over $400,000,000 - two and a half times as much as Great Britain pays the U. S. annually on her War debt...
...rubber users are complaining. A few days ago they called on Secretary of State Kellogg to see whether he could do anything for them. Later they stopped at the British Embassy and asked it to send word to London that they would like more rubber...
...effect on the U. S. rubber industry has been marked. Wage cuts of 5% to 10% have been made by several companies. Prices of auto tires and tubes have been advanced 10% and 15%, other rubber goods as much as 20%- all to balance the books because of a larger item opposite "raw material...